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16 January 2025 | 12 replies
Say that $500k is invested in a new trade or business - now it is business interest expense.
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21 January 2025 | 20 replies
In place of a flat fee I can see the transition being something based on referral (did my buyer agent get me a trades person, lender, home inspector, etc.
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7 February 2025 | 13 replies
I was racked with guilt that I had committed to do something and wasn’t able to execute in the way I had promised.
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21 January 2025 | 35 replies
You should contact a company in your area to convert the coin-op laundry to e-payments (Venmo, Paypal, Credit Card, Debit Card, etc.) to eliminate that fee.
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20 January 2025 | 31 replies
That’s half the cost of Prime’s reduced rate.2nd, like everyone is saying, the cost of setting up and LLC is less than $100… closer to $50… if you just do it yourself through the state (not complicated).3rd, if you want someone to help you draft your operating agreement, hire a local real estate attorney and it will be significantly cheaper than $1660… probably cheaper than $550.4th, if you want someone to do your taxes and help you get your max deductions - talk to a CPA who specializes in real estate and they can review your operating agreement to see if you’re setting yourself up properly, and they can do your regular taxes… and be cheaper than Prime. 5th, a separate CPA can work with you regularly to review your investments and strategies to determine good tax strategies as you look to execute any deals. 6th - don’t lock yourself into a crazy subscription model before you start making money!!!
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27 January 2025 | 18 replies
The seller can pay for it at closing (the title agent will cut the check to the trade to ensure there is no resulting lien) and provide proof of the replacement to the insurance provider.
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31 January 2025 | 44 replies
Investors should fully understand that Section 8 is not a cure-all for Class C & D tenant challenges, it's just trading one set of problems for another.We see too many investors not doing enough research to fully understand all this and making naïve investing decisions.
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15 January 2025 | 12 replies
I would tend to agree with the other CPAs typically.The 500-hour test is one of seven material participation tests used by the IRS to determine if a taxpayer is actively involved in a trade, business, or rental activity.
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13 January 2025 | 30 replies
The operator may trade off the longer term benefits to keep a high quality tenant in place.
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9 January 2025 | 3 replies
I think the before vs after pictures really speak primarily to your experience and ability to execute a project so it can help lenders gain comfort with future projects and allow you demonstrate what level of detail you except out of your contractors.